Bitcoin ETF investors withdraw funds in droves due to a record-breaking Binance hacking incident
2026-11-02 00:03:23
According to CoinMeta, due to a record-breaking Binance hacking incident, US spot Bitcoin ETF saw outflows of $643.2 million on Friday, marking the largest single-day outflow in October. This was the first time that ETF investors reacted comprehensively since attackers began withdrawing approximately $6.4 billion from Binance on Thursday. The inflow of $17.2 million on Thursday had already been recorded before the theft occurred. This sell-off resulted in ETF losing about $202 million over the past week, with a total loss of about $516 million in October. Since its inception, the cumulative net inflow has dropped to $57.4 billion, and the total net asset value is now $103.2 billion. Ethereum and Solana ETF fared relatively worse; Ethereum funds lost $155.7 million on Friday, continuing a five-day outflow trend, with a total loss of about $1.61 billion in October. The total market value of the crypto market is approximately $2.7 trillion.
Source:Decrypt
This content is for market information only and does not constitute investment advice.
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